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AGA Finance & Operations Committee

This Organizational Statement was last revised by the Governing Board, (5) VOTED, February 2012.


To create an annual budget that reflects the strategic priorities of AGA; to oversee investments and management of AGA assets; to oversee the National Office; to counsel the governing board on matters that affect the financial and operational viability of the organization; to implement governing board fiscal and operational policy and ensure adherence thereto; and to exercise identical functions for the AGA Institute.

Committee Functions

The responsibilities of the committee are set forth in the Bylaws, Articles VII, Section 3:

(1) recommending strategies and policies to the governing board, relating to the prudent management of the assets of AGA and the efficiency of its operations, (2) implementing governing board fiscal and operational policies and ensuring adherence thereto, (3) developing and overseeing current and future budgets, (4) recommending investment philosophy and policy to the governing board and monitoring the investment manager’s performance, (5) developing financial projections, (6) recommending amendments and changes to the governing documents and governance process, and (7) developing and implementing policies and procedures for AGA membership.

The specific charge to the committee is to be responsible for:

  • Strategic planning: Implementing relevant strategic directions from the Strategic Plan assigned to the committee; reviewing the Strategic Plan to determine new and better ways to achieve association goals; providing input on strategic trends and opportunities and suggested adjustments to the Strategic Plan.
  • Budget preparation: Developing the annual budget, based on priorities as defined in the Strategic Plan.
  • Revenues and expenses: Monitoring revenues and expenses in relation to the established budget. (The secretary/treasurer will relay the committee’s budgetary recommendations to the governing board.)
  • Honoraria and expense reimbursement: Examining honoraria and expense reimbursement levels and policy, and make recommendations for such to the governing board.
  • Insurance review: Reviewing the insurance coverage maintained by the organization to ascertain its adequacy.
  • Investment review: Recommending investment philosophy and policy to governing board.
  • Investments: Monitoring the investment manager’s performance and recommending changing managers if the committee believes that such a change is warranted.
  • Planning: Developing financial projections for the organization and recommending to the governing board courses of action that will maintain AGA’s economic viability.
  • Policy formation: Developing and updating financial and operating policy for recommendation to the govering board.
    • Such policies encompass (but are not limited to) investment of reserves, reserve levels, honoraria, expense reimbursement, insurance, audits, authorization levels, budgets, operations of the National Office, and financial operations of committees, task forces, sections, councils and editors.
  • Performing other functions as assigned by the governing board.

Committee Structure

The committee consists of nine members (including a chair); the AGA Executive Committee (including the secretary/treasurer-elect, if any), the past secretary/treasurer, and three at-large members (not on the governing board) appointed by the secretary/treasurer with the approval of the governing board. The chair of the committee is the AGA secretary/treasurer.

Committee Member Qualifications

  • Strong understanding of AGA’s operations.
  • Experience in business management.
  • Experience with investments and/or financial planning.


  • John Allen, MD, MBA, AGAF (chair)
  • John M. Carethers, MD, AGAF
  • Barbara Jung, MD, AGAF
  • Lawrence S. Kim, MD, AGAF
  • Michael Kochman, MD, AGAF
  • Joseph Losurdo, MD, AGAF
  • Maria Abreu, MD
  • Megan Adams, MD, JD, MSc